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Refinance Your Mortgage

As your financial needs change, your mortgage can too.

Equal Housing Lender Home Loans – Provided by Quicken Loans®

Schwab accounts include both Schwab Brokerage and Schwab Bank accounts. Retirement accounts eligible for program include: Traditional, Roth, Rollover, and Inherited IRAs.

Schwab clients are only eligible for one of the rate discounts above. Discounts cannot be combined. For adjustable-rate mortgages, the discount only applies during the initial fixed-rate period. IRA account balance eligibility and the IRA benefit package is not available for clients of independent advisors.

See rates and more loan options >

With Schwab Bank’s home lending program provided by Quicken Loans, you can choose to refinance your home mortgage when looking to lower your monthly payments or pay off your loan sooner.

Service

For several consecutive years, J.D. Power has ranked Quicken Loans highest in the nation in customer satisfaction for Primary Mortgage Origination and for Mortgage Servicing.3 Throughout the loan process, you’ll work side by side with both Schwab Bank and a Quicken Loans team solely dedicated to serving Schwab clients.

Convenience

Closing may take place at your home, your office, or another preferred location, plus you may sign and submit most disclosures and supporting documentation electronically. With electronic documentations, you’ll reduce paperwork by signing forms online and from your home, not to mention save time by eliminating the scanning and mailing of forms.

Value

As a Schwab client, you have access to competitive discounted rates for home loans, including mortgage refinancing, as well as advantaged pricing on home purchase and refinancing loans.1 These options—made possible by Schwab Bank and Quicken Loans—are designed to fit client needs and help you save on monthly payments.

Industry Leaders

Experience the benefits of working with Schwab Bank and Quicken Loans, the nation’s #1 online mortgage provider.4

“Overwhelmingly pleasant experience working with Schwab Bank and Quicken Loans”
—Chaz 3/2/20175

Why did Schwab Bank team with Quicken Loans? For award-winning service and industry-leading technology.

Watch our video to find out more >

Mortgage Rate Calculator

Begin to plan for your mortgage with the mortgage rate calculator. Based on your specific situation, you will see the rate you may qualify for. Your calculations will be tailored to the goals and data you provide.

Get a customized mortgage rate quote >

Use the home equity you’ve already built.

With a Home Equity Line of Credit (HELOC),6 you can use your home’s equity for home improvements, major purchases, debt consolidation, or other expenses.

Get Started Online or Call 877-535-4021

Find a home loan that’s right for you.

Fixed-Rate Loan

  • You want a stable monthly payment for the life of the loan.
  • You are uncomfortable with interest rates rising significantly over the next few years.
  • You are purchasing a home you plan to stay in for a long time.

Adjustable-Rate Loan

  • You want to lower your initial monthly payments.
  • You plan to sell or refinance your home within the initial fixed-rate period.
  • You expect your income to increase in the future.
  • You don’t anticipate interest rates to increase significantly in the future.

Note: Your interest rate and monthly payments may increase after the initial fixed-rate period ends.

Interest-Only Loan

  • You have plans to sell the property within a short period.
  • If you anticipate the ability to make a large principal reduction within the next few years of the loan, an interest-only loan may be a good option.
  • Interest-only loans7 may be a good fit for your needs if you have irregular income such as investments and commissions, whereas if you have steady income levels your needs may be better satisfied with principal and interest payment loans.
  • After the initial interest-only period, your monthly payments will rise.

How the home loan process works in 5 steps:

1Talk to us about your goals

You'll talk with either your Financial Consultant or a Quicken Loans Home Loan Expert about your home financing needs and your goals. They will answer any mortgage questions you may have.

Frequently asked mortgage refinancing questions

  • It depends on your situation, including your current interest rate and how long you intend to stay in your house. Based upon proprietary studies at Schwab Center for Financial Research, refinancing may make sense if you can lower your interest rate by at least half a percent. Reducing your rate in this fashion could increase your monthly cash flow as you may pay less in interest, If your goal is to shorten the length of your mortgage, your monthly payments could increase. However, you could generally save a considerable amount of interest over the life of the loan.

  • Yes. Many people borrow against the equity in their home. This could be a way to increase your cash reserves. However, we strongly recommend that you consult first with your financial planner, accountant, or other financial professional before you decide to move forward with this option.

  • Just like when you got your original loan to purchase the home, you’ll have closing costs associated with refinancing, such as origination or appraisal, processing, and title company fees. You may have the option of rolling these costs into the loan amount to reduce the amount you pay out of pocket.

  • As a Schwab client, you will be eligible for the Investor Advantage Pricing (IAP) program as well as a variety of mortgage products aimed at meeting your specific needs. IAP provides Schwab clients with a mortgage rate discount based on your eligible assets held at Schwab.

  • If you qualify, generally you can use up to 80% of the appraised value of your home to make home improvements. The equity you can use is based on the value of your home and how much you currently owe, and is subject to applicable state laws.

Don’t see the answer you need?

877-535-4021

Want more info on today’s rates?

View today’s featured mortgage rates and see which loan types qualify for Investor Advantage Pricing.1

Visit the Rates page to see exclusive discounts >

Looking to buy a home?

Receive discounted interest rates on your home loan as a Schwab client.

Explore home loan options >

Need a home equity line of credit?

Obtain a competitive-rate home equity line of credit (HELOC)6 with Schwab Bank’s home equity lending program, provided by Quicken Loans.

Benefit from your home’s equity with a low APR >
Let’s talk about refinancing solutions.

1. For Schwab Bank Investor Advantage Pricing: Only one discount eligible per loan. Discounts available for all Adjustable-Rate Mortgage (ARM) loan sizes, and selected Jumbo Fixed-Rate loans. Discount for ARMs applies to initial fixed-rate period only with the exception of the 1-month ARM where the discount is applied to the margin. Eligible balance based on Schwab and Schwab Bank combined account balances, including the following retirement account types: Traditional, Roth, Rollover, and Inherited IRAs. Clients that utilize an eligible IRA account balance to qualify for certain discounts may qualify for one special IRA benefits package per loan. This includes: a $200 bonus award into your Schwab IRA account with the largest balance, and an in-depth personal financial plan analysis to include a detailed review of your IRA(s) by a Certified Financial Planner. This information does not constitute and is not intended to be a substitute for specific individualized tax, legal, or investment planning advice.

IRA account balance eligibility and the IRA benefit package is not available for clients of independent investment advisors. Details for the discount program available for these clients can be found by visiting www.schwab.com/advisors.

Eligible balance must be verified 15 days prior to your anticipated closing for an on-time close. If you deposit your eligible assets with less than 15 days remaining before closing, your closing date may be delayed and your eligibility to receive the promotional rate may be affected.

Where specific advice is necessary or appropriate, Schwab Bank recommends consultation with a qualified tax advisor, CPA, financial planner, or investment manager.

2. The rates and APR shown are based on a purchase loan of an owner occupied, single family residence for our best-qualified customers. Your individual rate may vary.

Interest Rates, APRs, and Monthly Payment calculations are based on the following loan amounts and Loan-to-Value (LTV):
Conforming: $250,000, 60% LTV
Jumbo: $750,000, 60% LTV
Rates may be higher or lower for different loan amounts, loan products, property type, credit score, occupancy, Loan-to-Value, and loan purposes.

In order to participate, you must agree that the lender, Quicken Loans, may share your information with Charles Schwab Bank.

This offer is subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an obligation to lend. Loans are subject to credit and property approval. Other conditions and restrictions may apply. Hazard insurance may be required. Program terms and conditions are subject to change.

3. Quicken Loans received the highest numerical score in the proprietary J.D. Power 2010 – 2016 Primary Mortgage Origination studies and the 2014 – 2017 Primary Mortgage Servicer studies. 2017 Origination (or Sales) based on 5,893 total responses and measures the opinions of customers who originated a new mortgage or refinanced within the past 12 months, surveyed in July – August 2017. 2017 Servicing based on 7,374 total responses and measures the opinions of homeowners on their mortgage servicing company, surveyed in March – April 2017. Your experiences may vary. Visit JDPower.com.

4. Quicken Loans is the #1 online lender based on the ranking of Quicken Loans in comparison to online residential mortgage lenders included in the Inside Mortgage Finance “Top 50 Mortgage Lenders” report from Q2 2017.

5. This testimonial excerpt is illustrative in nature and may not be representative of the experiences of clients or services. It does not indicate future performance. The individual submitting this testimonial was not paid nor rewarded in any way. For more information regarding this testimonial please (provide contact method).

6. Home equity lines have a 10-year draw period followed by a 20-year repayment period. During the draw period, you will be required to make monthly payments of accrued interest. Payments will increase if rates increase. At the end of the draw period, your required monthly payments will increase because you will be paying both principal and interest. You may not use this home equity line as a bridge loan, for commercial purposes, to invest in securities, or to repay a margin loan.

HELOC Terms: As of the annual percentage rate (APR) for a primary residence HELOC opened simultaneously with your first mortgage loan – also known as piggyback loan - is . Rates vary for second homes, vacation homes, or HELOCs opened as standalone accounts. The APR on your home equity line of credit is variable based upon the Wall Street Journal Prime Rate plus a margin. The maximum APR that can apply is 18% or the maximum amount permitted by state law, whichever is less. The minimum credit line amount is $50,000 or the minimum amount permitted by state law, whichever is less. The maximum credit line is $1,000,000. Additional terms and conditions apply.

HELOC Fees: The estimated fees you may pay on the amount drawn from your line ranges from $0 - $29 for every $1,000, and will vary based on the location of the property. The amounts provided are estimates and are not a substitute for initial disclosures of closing costs that you will receive once you apply for a loan with Quicken Loans. Proof of proper and adequate insurance may be required prior to closing. You are responsible for paying any state, county, or local taxes imposed on a home mortgage transaction.

7. Interest-only mortgages have an initial interest-only payment period followed by a fully amortizing payment period. After the interest-only period ends, your monthly payments will increase because you will be paying both principal and interest. Interest-only mortgages include additional risks you should consider. For more information about these risks, please contact a home loan specialist.  Home lending is offered and provided by Quicken Loans, Inc., Equal Housing Lender. Quicken Loans, Inc. is not affiliated with The Charles Schwab Corporation, Charles Schwab & Co., Inc., or Charles Schwab Bank. Quicken Loans is licensed in all 50 states. Quicken Loans, Nationwide Mortgage Licensing System #3030. Restrictions may apply. Equal Housing Lender. Lending services provided by Quicken Loans, Inc., a subsidiary of Rock Holdings, Inc.

Charles Schwab Bank and Charles Schwab & Co., Inc., are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Investment products are offered by Charles Schwab & Co., Inc. (Member SIPC). Deposit and lending products are offered by Charles Schwab Bank, Member FDIC and an Equal Housing Lender.